Agree Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are conducted through, directly or indirectly, Agree Limited Partnership (Operating Partnership), of which the Company is the sole general partner, and in which it held a 96.56% interest as of December 31, 2010. The Company is focused primarily on the ownership, development, acquisition and management of retail properties net leased to national tenants. It specializes in developing retail properties for national tenants. In January 2011, the Company acquired a retail property net leased to AT&T located at the northwest corner of New Centre Drive and South College Road. In December 2011, the Company acquired Wawa convenience store and fuel station in Baltimore, Maryland, as well as a Walgreens pharmacy in Fort Walton Beach, Florida, and a CVS pharmacy in Leawood, Kansas. In January 2012, it acquired a retail property net leased to National Tire & Battery.